By Nick Bates, Questar Branch Office Manager at Ann Arbor Annuity Exchange
We have all seen the statistics on the massive number of baby boomers retiring on a daily basis in our country, and it has been a great opportunity for financial professionals (FPs) to provide them with products that can help meet some of their needs such as income and safety. Well guess who else has seen those same statistics: FINRA, the SEC, and other self-regulatory organizations (SROs).
Over the last several years, sales to seniors have become a major focus of the SROs. This has led to increased suitability requirements for clients over the age of 65 and even continuing education requirements that are solely dedicated to this topic.